A senior official from Iran’s Trade Promotion Organization (TPO) mentioned on Tuesday that the settlement was reached throughout Uzbekistan’s Trade Minister Raziz Kudratov’s go to to Tehran final week.
Akbar Godari, head of TPO’s Central Asia commerce workplace, mentioned the Preferential Trade Agreement (PTA) would enable commerce between Iran and Uzbekistan to extend from simply $500 million to $5 billion immediately. He mentioned it might be.
He mentioned the 2 international locations have agreed to scale back commerce tariffs on sure items and merchandise exported from Iran, together with railway wagons, energy technology generators, metal and petrochemical merchandise.
Iran is making an attempt to extend commerce volumes with regional international locations and allies amid sanctions that restrict its entry to Western markets.
The nation already has PTA agreements with international locations within the Russian-led Eurasian Economic Area, generally known as the EAEU, in addition to Pakistan and Indonesia.
However, the Iranian authorities seeks simpler entry to Central Asian markets, and the area’s landlocked international locations search to learn from commerce happening on rising east-west and north-south transport corridors.
According to Iranian authorities statistics, cargo transport by Iran to and from Turkmenistan, the gateway for commerce with Central Asia, has elevated considerably.
Uzbekistan is probably the most populous nation in Central Asia. The nation has shut cultural and historic affinities with Iran, making it simpler for Iranian corporations to have interaction in commerce with home companions.
MA/Press TV